NAT - Nordic American Tankers: Suezmax Pure Play For Income-Minded Investors
2024-02-07 20:21:49 ET
Summary
- Nordic American Tankers is a crude oil tanker company owning only Suezmax tankers. NAT's fleet is well positioned to benefit from a low Suezmax order book and the growing demand.
- NAT has a robust balance sheet with $69 million cash (ex. restricted cash), $229 million long-term debt, and $255 million total debt.
- NAT’s margins are lower than those of its direct competitors, although it delivers a respectable ROE. For the first three quarters of 2023, NAT achieved impressive results.
- The company pays dividends with an attractive yield of 11.61% and trades at 88% P/NAV, 2.40 EV/Sales, and 5.55 EV/EBITDA. It is the cheapest compared to Okeanis Eco Tankers and DHT.